Karatbank Coin KBC - Gold Backed Cryptocurrency - What is an ICO

In former times, gold was a direct payments means, particularly in the form of gold coins.

However, Gold has continuously been replaced by bank notes, which nowadays are not, or only to a marginal percentage, backed by state-owned gold. Therefore, the value of the bank notes issued by the different countries rely on the trust that the respective country is able to pay its bills.

Only this is less sure than in former times. Especially in less developed countries, the trustworthiness of legal tender moves towards zero.

The KaratBank Coin perfectly meets worldwide needs because it is based on gold. Each coin represents a certain weight of gold and can at all times be exchanged into physical gold in the form of CashGold. Furthermore, it can be exchanged for all fiat currencies and cryptocurrencies worldwide.

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